GMDC shares jumped more than 3% in morning trade after the Coal Ministry allocated Kudanali Lubri coal mine to the company.
The Coal Ministry has issued allocation orders for three commercial coal mines. The coal mines allocated are Machhakata to NLC India Ltd, Kudanali Lubri to Gujarat Mineral Development Corporation and Sakhigopal-B Kakurhi to TANGEDCO.
In a statement released on Thursday, September 5, the Ministry of Coal stated, “The Ministry of Coal today issued Allocation Orders for 03 Coal Mines namelyMachhakata (Revised), Kudanali LubriandSakhigopal-B Kakurhi,to NLC India Limited, Gujarat Mineral Development Corporation Limitedand TANGEDCO respectively. Of these three coal mines, one is fully explored coal mine and two are partially explored coal mines.”
As of 9:29 am, GMDC shares were trading 2.86% higher at Rs 374.60 on the NSE.